Palm Futures Down on Weak Data

KUALA LUMPUR: Crude palm oil (CPO) futures contracts on Bursa Malaysia Derivatives eased yesterday on weak export data reported by cargo surveyors, dealers said.

A dealer said the lower export data triggered concerns that uncertainty in Europe may further cut CPO exports.

However, losses were limited due to the higher soyaoil and crude oil prices as well as limited supply due to low production in February.

February 2012 fell RM7 to RM3,153 per tonne, March 2012 slipped RM10 to RM3,180 per tonne, April 2012 shed RM8 to RM3,197 per tonne and May 2012 declined RM5 to RM3,201 per tonne.

Turnover rose to 25,510 lots from 22,750 lots before.

Source: Business Times

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